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(Working with a statement of cash flows) Given the balance sheet, and income statement, prepare a statement of cash flows for Abrahams Manufacturing Company for the year ended January 31, 2018 Additional Information 1. The only entry in the accumulated depreciation account is for 2018 depreciation 2. The firm paid $18,524 in common stock dividends during 2018 Complete the operating activities part of the statement of cash flows: (Round to the nearest dollar NOTE Input cash inflows as positive values and cash outflows as negative values) $ Statement of Cash Flows Cash Flows from Operating Activities Net income Adjustments Depreciation Increase in accounts receivable Decrease in inventory Increase in account payable Decrease in accrued liabilities Net cash provided by operating activities Enter any number in the edit fields and then click Check Answer Abrahams Manufacturing Company Income Statement for the Year Ended 1/31/2018 2018 Sales $ 185.000 60.000 125.000 Cost of goods sold Gross profit Selling, general and administrative expenses Depreciation expense Operating income 43.000 30,000 52.000 2.700 Interest expense Earnings before taxes Taxes 49.300 Preferred stock dividends 15.776 12.000 Earnings available to common stockholders 21,524 Abrahams Manufacturing Company Balance Sheet for 1/31/2017 and 1/31/2018 2017 2018 Cash $ Accounts receivable 89,000 64,000 112,000 10,000 $ 112,000 68,400 93,600 10,000 Inventory Prepaid expenses Total current assets Gross plant and equipment $ 275,000 238,000 (40,000) $ 284,000 315,000 (70,000) $ 529,000 Accumulated depreciation $ 473,000 Total assets Accounts payable $ $ 85,000 68,000 96,000 57,000 Accrued liabilities Total current debt $ 153,000 $ 153,000 70,000 0 Mortgage payable Preferred stock 0 Common stock 205,000 45,000 123,000 205,000 48,000 Retained earnings Total debt and equity $ 473,000 $ 529,000

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